Did you know this is a transcript from our YouTube channel? **Watch the quick 6 minute full video on Youtube ->**

Hello, De.Fiers!

I am Chris Comrie, the marketing manager at De.Fi. I have something interesting to discuss today. We are going to talk about something you might think it’s stupid, you might think it’s awesome, you might think it’s speculative, you might think it’s a bubble. I don’t know how I’m going to spell it out for you and then you can decide what you think about it.

But today we’re talking about the Doge NFT — yes this beautiful meme on the cover.

Table of Content

Little picture right here was bought by PleasrDao
They bought the Snowden NFT for five million dollars and who is Kabosu ?
Thanks !

Watch the full video on Youtube ->

The little picture right here was bought by PleasrDAO. It is a picture of the original Shiba.

I wanted to disclose something though. I do not own any tokens of the NFT but there are team members in the De.Fi community that do own some of this. I just wanted to throw that out there in the spirit of full transparency.

Now we got that out of the way and again this is not financial advice, this is not investment advice, but we just want to highlight things that we think are really interesting and worth noting.

This is the doge NFT and this little picture was bought by PleasrDAO.

If you haven’t heard of PleasrDAO — they are the same people that pooled a bunch of money to buy a couple NFTs.

The very first one they bought is this one right here and the price that they paid for it was something like a couple million bucks.

PleasrDAO came together pulled a whole bunch of money created a DAO just like that to buy specifically this piece and this was to celebrate the launch of Uniswap v3.

That’s the interesting thing to take away here is that they liked the idea of quickly pooling funds and buying a high profile generous NFT.

They bought the Snowden NFT for five million dollars and who is Kabuso ?

They did it again and they bought a couple others. They bought the Uniswap tribute one they bought the Snowden NFT and I think this one went for five million dollars. This is an NFT put out by Edward Snowden and it’s actually made of the documents that were used in the court ruling from Edward Snowden.

Then they also bought another of the highest profile [NFTs] and we’re gonna cover today- it’s the Doge NFT.

This was created by an artist and her name is Kabosu.

They took one giant NFT and they did what’s called fractionalize it and this is a good example on the website of what fractionalizing actually means. You can take the one picture and you split it up into a whole bunch of different shards.

If you watch right here you can see how it’s kind of sharded. They used a cool product out there called fractional.

Now fractionalizing allows you to take an NFT and split it into a whole bunch of different pieces because this NFT was bought for millions of dollars. Most people aren’t able to afford something like that, so this allows a whole bunch of people to have shared common ownership of a single NFT. Now if you look at right here the implied value based on the price of the tokens is astronomical, so it’s about $287 million dollars- which again use your own judgment. You decide if it’s overpriced, if it’s underpriced and if you just want to buy five dollars of it just to have fun — go for it. But I just wanted to share the story of it and kind of what it means overall for the entire NFT and DeFi and really crypto ecosystem here.

Here’s their twitter if you want to check it.

Here’s the pricing chart.

It started at, I think, one and a half cents and over the first couple of days it actually shot up to about four cents, a little over four cents, and has doubled since then. But it’s just really interesting and I wanted to talk about this because it’s an indicator of things to come.

So punks (CryptoPunks) are being fractionalized and other high-profile NFT are being fractionalized and basically, one of the big things that we need to consider (especially If you’re sitting in the United States) is that how does this turn into security?

There are a couple of other projects out there I want to tell you to research, is B20 token. That’s an interesting one. I have a very very very small bit of it just because I think it’s an interesting project and it’s just an important trend to keep in mind about things that are happening in the NFT and DeFi ecosystem. How those things play out in the future as NFTs evolve beyond cute paintings and memes and things like that into more digital asset-like characteristics and properties.

I don’t know how this plays out but it’s a very interesting early experiment in seeing how the tech works and a cool thing if you really love DogeCoin and the SHIBA-INU DOG then, you know, get five bucks worth of the $DOG token.

That’s it for today! Just wanted to drop a little knowledge bomb on you.

Thanks for joining me today!

Watch the full video on Youtube ->

Check our guides:

Solana Network Ultimate Yield Farming Guide [Infographics]
Fantom Network Ultimate Yield Farming Guide [Infographics]
Huobi ECO Chain Ultimate Guide for Yield Farming
Polygon Network Ultimate Guide for Yield Farming
Binance Chain Ultimate Guide for Yield Farming
EOS Ultimate Yield Farming Guide

And join us on twitter and telegram!

Good luck in farming!